💰 TRUTH! Average Retiree Income: How Do You Compare?

Do I have enough to retire? Does my retirement plan look solid? How do I compare, in net worth? Am I going to be able to live comfortably, from my retirement income? This question usually happens, when people get closer to retirement and this is exactly what this video is all about!

Every single day, I work with a lot of folks who are preparing to retire, or have retired. Many are thinking about making the same move. I want to share some numbers with you and I want to share a conversation with you. So let's go for a walk on the beach. Now, I'm not talking about the Hollywood rich and famous. I'm just talking about just normal, average, everyday people. You might have thought about this already but if you have not just watch what others have done who have retired. They all seem to ask the same questions.

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Jerry Pinkas Real Estate Experts
604 N 27th Ave Myrtle Beach, SC 29577
843-839-9870

Provides actionable advice and true stories from real estate investors, and people moving and retiring every week.

Disclaimer: All information given in my videos is meant to be educational. This video is not intended to replace your research, nor to provide legal, investment, or financial advice. For legal advice consult a lawyer.

[gingerkilkus]

Retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My parents both spent same number of years in the civil service, but my mom was investing through a wealth manager, and my dad through the 401k.

[RuthEvelyn-rcbg]

Most people don’t realize it, but the secret to retiring comfortably is finding a way to make returns while your money works for you. My dad, as I remember, started saving for retirement quite late, but I know he was making more than $10k returns from his investment monthly and it was completely passive.

[ChristopherAbelman]

People are facing a tough time in retirement. Low-paying jobs, inflation, and high rents make it hard to save. Now, middle-class Americans find it tough to own a home too, leaving them without a place to retire.

[TheJackCain-]

I believe the retirement crisis will get even worse. Many struggle to save due to low wages, rising prices, and exorbitant rents. With homeownership becoming unattainable for middle-class Americans, they may not have a home to rely on for retirement either.

[BullBarry-eefy]

Well that would be impossible to do considering I'm in my late 50s and I'm more interested in investments that could set me up for retirement in my 60s, my goal is at least $2million.

[markkeller]

The feeling you get when paying off your mortgage is incredible. You feel true “freedom”…the heavy weight is lifted from your shoulders. It’s absolutely amazing.

[sdleasia]

Retiring next year at 61. Already had 2 cousins die in their 50's, but poor health. I'm healthy and plan on living my best life. I got this.

[ernie]

I retired at 58. 85 in 3 weeks. Put 142, 000 miles on my Class A diesel pusher.
One of the best decision I made. Debt free for years. Own a home in MI & FL. Wife & I have 3 cars: 99 Taurus, 2004 Explorer & 2005 Silverado. All work well. Agree real estate a great part of our situation. Also, building a small business. Also, the stock market. HOW: Don't have kids before marriage; get at least a high school diploma; Don't get divorced; Don't do drugs at all & alcohol only a little. Work hard. Relax.

[danklein]

I sleep very well being debt free. Not a care in the world. Every day is beautiful.

[elbroverlander]

Heck yeah bro! I’m retiring from federal service in 634 days with 30 years of service. I’ll only be 58 and can’t wait.
No one should work longer than they have to.

[pamcornelius]

Why do people always talk about SS running out of money but never say the same thing about other federal programs (like Food Stamps) going bankrupt?

[bruiser]

A very good video. The principles you describe are just as relevant here in Australia. Our retirement income system is different, but the advice to buy your own home, plan to be debt free, and save for retirement is universal. I particularly like your statement that you can find ways to make more money but you can’t make more time.

[garykinard]

At 55 I was completely debt free. Now 70 I still drive the same pickup and still spend below my income. Got to change that mind set. I live a stress free life for the last 15 years. I have forgotten what it is like to have a debt.

[charlesbartlett]

My mother taught me that it’s not what you make, it’s what you spend. She became a millionaire on $15/hour.

[FlatFifties]

My wife and I retired five years ago. It was a great surprise to find that our disposable income in retirement is higher than it was when we were working. The benefit of working to my full retirement age and both of us contributing to our 401k's consistently over the years.

[tomphillips]

Had the good fortune to marry my wonderful wife in 1978. She's been the anchor of this family. Siblings divorced/ separated and paid the price in more than monetary sense. Retired during covid, never been so happy, both of u!

[RPMVinyl]

The trick to retiring debt free with money in the bank is to not marry that trophy wife/husband.

[andymackie]

Thanks so much. You're realistic, pragmatic and a clear communicator.

[nancysiegel]

You are the first person that I’ve heard that makes total sense.

[roypublic]

Nice presentation.
I retire in 30 days, very excited. Several years ago I changed my position in the Stock Market to an 80/20 portfolio. Put half a mil in Treasuries and left the rest in the S&P index. My idea was ~5 years before retiring I removed much of the risk in the market and secured it for the future. Did that just before the "ahem" last election (2019).
I own three homes and raw land, all paid for. No CC debt, no loans... Completely debt free. I'm about to finish this second retirement income, and will take SS at 64 (2 years). My wife has the same in her 403b, and retirements, but still works (RN). Looking forward to vacating the 9 to 5 life after working since I was 15...